Wheat up 4-6 cents, corn up 10-15 cents, soy up 15-20 cents
- CBOT March soft red winter wheat last traded up 4-3/4 cents at $6.70 per bushel. K.C. March hard red winter wheat rose 4 cents to $6.45 per bushel.
- CBOT March corn was last up 10-1/4 cents at $5.42-1/2 per bushel.
CHICAGO: Following are US trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Wednesday.
WHEAT - Up 4 to 6 cents per bushel
Wheat following corn market higher but large Australian crop, firm US dollar limit gains.
CBOT March soft red winter wheat last traded up 4-3/4 cents at $6.70 per bushel. K.C. March hard red winter wheat rose 4 cents to $6.45 per bushel. MGEX March spring wheat was 2-1/2 cents higher at $6.40-1/2 per bushel.
CORN - Up 10 to 15 cents per bushel
Most-active corn futures contract surged to fresh 7-1/2-year high during the overnight trading session, supported by strong demand for both corn and ethanol from China.
CBOT March corn contract broke through technical resistance at its 10-day moving average late in the overnight trading session.
CBOT March corn was last up 10-1/4 cents at $5.42-1/2 per bushel.
SOYBEANS - Up 15 to 20 cents per bushel
Strong demand on both the domestic and export front underpins soy market. Traders note fund buying and short-covering as market extends recovery from last week's sell-off.
Benchmark CBOT March soybean futures contract rose above its 10-day moving average overnight.
Consultancy AgResource said Chinese soybean imports could rise to record of around 110 million tonnes in 2021/22 marketing year.
CBOT March soybeans were last 16-3/4 cents higher at $13.87 per bushel.
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